Daily Archives: June 12, 2017

GST on Construction & Turnkey Projects – Suggestions Invited

By | June 12, 2017

GST on Construction sectors and Turnkey Projects Dear Professional Colleague, Greetings from Indirect Taxes Committee! The Indirect Taxes Committee is in receipt of request from the department, for providing suggestions on GST pertaining to Construction sectors and Turnkey Projects. In this regard, we request you to provide us with your suggestions on the same, if… Read More »

Category: GST

GST-How to Take Input Tax Credit on Closing Stocks – VS Datey Book

By | June 12, 2017

GST-How to Take Input Tax Credit on Closing Stocks Paperback – 2017 by V.S. Datey (Author, Contributor) Incorporating Migration of existing persons Carry forward of existing Cenvat credit and input tax credit Input tax credit where person having tax paying document,was ineligible for credit earlier Deemed Input Tax Credit when tax paying documents not available Other… Read More »

GST-How to Meet Your Obligations – 2nd Edition 2017 Book SS Gupta

By | June 12, 2017

GST-How to Meet Your Obligations (Set of 2 Volumes) Paperback – 2017 by S.S. Gupta (Author, Contributor) With GST Rates & Rules [ Updated till 3rd June 2017] Volume 1 : Basic Concepts, Transitional Provisionsas per New Rules, Levy Of GST, Supplies, Non-Taxable Supplies, Time of Supply, Place of Supply, Value of Supply, Reverse Change, Job Works, e-Commerce… Read More »

Category: GST

GST migration of business verticals as separate unit within same state

By | June 12, 2017

Can we migrate business verticals as separate unit within same state as of now? Seperate registration for seperate business verticals. Only one vertical will be migrated. Other would require fresh registration. [ Reply  as per Twitter Account of Govt of India for GST queries of Taxpayers ] Read Other related GST Questions / Queries replied  Read other… Read More »

Goods received after GST , credit of excise duty paid before appointed date allowed

By | June 12, 2017

whether credit of excise duty paid before appointed date can be taken in GST if the goods are received after appointed date Yes. Please refer to Transition Rules.  [ Read  Final GST Transition Rules approved by GST Council 03.06.2017 ] [ Reply  as per Twitter Account of Govt of India for GST queries of Taxpayers ] Read Other… Read More »

Final GST Rules 

By | June 12, 2017

Final GST Rules Central Goods and Services Tax Rules 2017 – CGST Rules 2017 – Notification No. 3 /2017 – Central Tax Dated 19.06.2017 GST Settlement of funds Rules 2017 Notification Dated 27th July, 2017 Final GST Advance Ruling Rules Approved by GST Council Final GST Advance Ruling Formats Approved by GST Council Anti-profiteering Rules… Read More »

Bonds issued by PFC Ltd eligible for Income Tax Section 54EC Exemption

By | June 12, 2017

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 8th June, 2017 INCOME-TAX S.O. 1818(E).—In exercise of the powers conferred by clause (ba) of Explanation to section 54EC of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that any bond redeemable after three years and issued… Read More »

Revised Limit for GST Composition Levy by GST Council on 11.06.2017

By | June 12, 2017

REVISED THRESHOLD LIMIT FOR COMPOSITION LEVY [As per discussions in the 16th GST Council Meeting held on 11th June, 2017] Sub-section (1) of Section 10 read with sub-section (2) of the same section of the Central Goods and Services Tax Act, 2017 [CGST Act] provides that an eligible registered person, whose aggregate turnover in the preceding… Read More »

IGST Exemption List Approved by GST Council on 11.06.2017 – Download Print

By | June 12, 2017

IGST Exemption under GST [As per discussions in the 16th GST Council Meeting held on 11th June, 2017 RESS RELEASE, DATED 12-6-2017 I. Bilateral Commitments – Imports under Agreement between India and Pakistan/Bangladesh for regulation of Bus Service S. No. Notification Gist of the notification 1. No.4/99-Customs, dated 08.01.1999 1. Passenger bus; and 2. Spares,… Read More »

Final GST Accounts and Records Rules Approved by GST Council 11.06.2017

By | June 12, 2017

Final GST Accounts and Records Rules Approved by GST Council 11.06.2017 Accounts and Records Rules 1. Maintenance of accounts by registered persons (1) Every registered person shall keep and maintain, in addition to the particulars mentioned in sub-section (1) of Section 35, a true and correct account of the goods or services imported or exported… Read More »